Keefe, Bruyette & Woods Issues Positive Forecast for AXIS Capital (NYSE:AXS) Stock Price

AXIS Capital (NYSE:AXS) had its price objective upped by Keefe, Bruyette & Woods from $110.00 to $115.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

Several other analysts also recently weighed in on AXS. Jefferies Financial Group boosted their price objective on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a research report on Monday. TD Cowen raised their price objective on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Wells Fargo & Company reduced their target price on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, StockNews.com downgraded AXIS Capital from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.88.

AXIS Capital Price Performance

AXIS Capital stock opened at $92.68 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $90.03 and a 200-day simple moving average of $82.95. The stock has a market cap of $7.75 billion, a P/E ratio of 7.50, a price-to-earnings-growth ratio of 3.87 and a beta of 0.95. AXIS Capital has a 12-month low of $57.95 and a 12-month high of $94.89.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. Equities analysts expect that AXIS Capital will post 11.36 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.90%. AXIS Capital’s payout ratio is 14.25%.

Insider Buying and Selling at AXIS Capital

In related news, Director Charles A. Davis sold 2,234,636 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the completion of the sale, the director now directly owns 4,543,170 shares of the company’s stock, valued at $406,613,715. This trade represents a 32.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On AXIS Capital

Large investors have recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in shares of AXIS Capital by 48.6% during the third quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock worth $30,070,000 after acquiring an additional 121,437 shares during the period. HighTower Advisors LLC acquired a new position in AXIS Capital during the 3rd quarter worth approximately $638,000. Verition Fund Management LLC purchased a new position in shares of AXIS Capital during the 3rd quarter worth approximately $453,000. Entropy Technologies LP acquired a new stake in shares of AXIS Capital in the 3rd quarter valued at approximately $507,000. Finally, Jennison Associates LLC boosted its stake in shares of AXIS Capital by 24.4% in the third quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock valued at $129,371,000 after buying an additional 318,784 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

About AXIS Capital

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.